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Nearly Naked (Simple Trades)

  • #2,661
  • Jun 3, 2010 2:22pm Jun 3, 2010 2:22pm
Ok, I'm back for a bit. I think we are going to need to change the name of the thread, people are getting really pissed off about us using MAs and TLs. I thought putting the word "Nearly" in the title would solve that but people are starting to PM hate mail to me too; didn't know people were that passionate about it. As Calderone stated a few lines up, "all perspectives are welcome". I think that using MAs, TLs, "00"s fibs and pivots fall under the classification of "Nearly". As you can see from my chart, I have a MACD and RSI at the bottom to look for divergences and to keep me from getting into any PA traps, so I guess I need to go stick my head in the corner or get my allowance taken away.....as you can see I am starting to get upset about the constant hate mail.

I guess I need to state something since a lot of people didn't read the beginning paragraphs of this thread. Anything is welcome. If you posted a chart with no PA and all it was was indicators, I would be totally happy, because it shows that you are trying and contributing. Indicators are NOT bad and they have made me MANY pips in the past, I just using them sparingly but I still USE them. Please, if you are going to attack someone on this thread, please sit back and think about it first (Brain-to-Keyboard-Filter). Or PM your issue to me and I will direct you to the First Paragraphs of this thread. As a lot of people can see who follow this thread, we are very HAPPY here and positive and there is a very friendly vibe. I am finally getting to the end of my rope. Please do not send me hate mail and post ignorant comments to people who have been posting on this thread positively and to the benefit of us all. If you think that our thread is not "Naked" enough, then please reconsider your issue, or move on. Simple as that. And Marc, great chart as always, and sorry Calderone, I think this is like the 100th time you had to cover my back for me, I was sleeping but I do appreciate it (where have you been by the way, long time no post)
  • #2,662
  • Jun 3, 2010 2:28pm Jun 3, 2010 2:28pm
Quoting EasySt
I thought this thread was about Naked trading. Nothing naked about that chart. You have so many squiggly lines and indicators and other crap you can barely see the trace.
I think Marc is the most "Naked" one in here, all he usually uses is MA overlay and PA. Please read the first paragraphs of my thread. Thanks, we appreciate your comments, but we like to keep things positive and open here. Marc has made me MANY pips in the past, you might listen to him and maybe you will learn something
  • #2,663
  • Jun 3, 2010 2:34pm Jun 3, 2010 2:34pm
Quoting Saxon
Ok, I'm back for a bit. I think we are going to need to change the name of the thread, people are getting really pissed off about us using MAs and TLs. I thought putting the word "Nearly" in the title would solve that but people are starting to PM hate mail to me too; didn't know people were that passionate about it. As Calderone stated a few lines up, "all perspectives are welcome". I think that using MAs, TLs, "00"s fibs and pivots fall under the classification of "Nearly". As you can see from my chart, I have a MACD and RSI at the bottom...

Good job. If people dont understand after reading this post also, then I seriously think they need to get help. You might want to index this from your first post.

Just my 2c - dont change the name of the thread for people who are getting pissed. If they dont like it, they should just move on ..

It also helps that my wife looked at the title yesterday and was like what the heck are you reading
  • #2,664
  • Jun 3, 2010 2:44pm Jun 3, 2010 2:44pm
Quoting aragorn123

Good job. If people dont understand after reading this post also, then I seriously think they need to get help. You might want to index this from your first post.

Just my 2c - dont change the name of the thread for people who are getting pissed. If they dont like it, they should just move on ..

It also helps that my wife looked at the title yesterday and was like what the heck are you reading
My wife did the same thing and thought I was at a different kind of website, haha
  • #2,665
  • Jun 3, 2010 2:53pm Jun 3, 2010 2:53pm
Two perspectives, it looks like PA is down to test old S/R and Piv 23. If PA makes it back up, I think the first target area might be void now and will be looking to the second. Also, the second chart shows bounce on Pivs (W and D) and UTL. Could not go up at all and go to low. Let's watch and see
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  • #2,666
  • Jun 3, 2010 3:08pm Jun 3, 2010 3:08pm
Looks like EU had a false break of UTL. On the other graph, it looks like weekly piv capped upward momentum
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  • #2,667
  • Jun 3, 2010 3:32pm Jun 3, 2010 3:32pm
One last thing before I step off the desk for a bit; going to the wine store.
I know there has been a lot of bantering back and forth about Naked Trading and Non-Naked Trading and in our case, Nearly Naked Trading. But there is one thing that EVERYONE needs to realize. Naked or not, there are, I believe, a few tools that everyone should utilize in trading, and not doing so would be very "Unwise." Those tools are as follows and I will explain why:

Moving Averages
Pivots
Trend Lines
Significant Support and Resistance
"00" Prices
Fibs

So here is why. Us, speculators and small participants, as much as we would like to believe, we do NOT move the market. That is a fact. We do not command the resources to do so, and thinking otherwise will make you poor. This may seem like a shot at small investors, but it isn't, it is helping us to understand where we fit in things, and we are not necessarily in a bad spot. Block traders, Institutions, Banks and Countries drive PA, that is a fact. Now, how does this help us? As you can probably tell from the news, analyst reports, etc... there are a few items/indicators/tools that seem to reappear over and over, no matter where you get your data, and those are listed above. How often have you heard the tools used above in an analyst report, and guess who a lot of your analysts work for....you got it! I think I stated this earlier, but am unsure so here it is again. The more people using the tool and the more obvious the S/R, the more green you will make. Moving Averages are WIDELY used across the board, small and large investor alike. It would be unwise not to utilize a few of these. Pivots are another one. So are trend lines. You get the idea. If an S/R is obvious from a first glance, chances are the block trader at GS or MS is looking at the exact same thing you are. You all know I am passionate about "00" and it is not a blind passion. "00" are where are TON of orders are places, and some are more significant than others. A lot of Tilted SP (Structured Products) from big banks like Goldman place LARGE orders for their product at these areas, TRUST ME, I know from experience (read my profile). And finally fibs. These can be ambiguous, but if the high and low are obvious, then the trades should be obvious. If there are potentially two highs and one obvious low, then use two fibs and look for confluence, trust me, the FICC team at GS is doing the exact same thing.

So what am I trying to say? It should be obvious by now....being 100% naked is not the best idea. You can keep it simple by utilizing widely used tools, and watching PA, but I have yet to meet a successful "Naked" trader. So when you pull up MT4 and look at the plethora of fun indicators to throw on your chart, keep this rule of thumb in mind, if you haven't heard of it or can't pronounce it, don't use it. And on the flip side, if you open MT4 and don't look at the indicator list, you might as well throw away your money. It sounds bad and too simple, but pull up 10 different analyst reports from the major releases and find the indicators and tools that they use, and use them too. And more often then not, they will be the ones I listed above. Good luck trading everyone, I will be back shortly
  • #2,668
  • Jun 3, 2010 4:06pm Jun 3, 2010 4:06pm
I am very sorry to hear that people are sending you crappy messages. I think you should adjust your profile and not allow these, if someone has something to say-let them say it in an open forum and show what an @sshat they are. This is one of the best threads at the factory.

I have not taken any trades this week. I had some things to take care of (annual physical) and felt since it is nfp week-why not take a break. I do confess to an aud short off the 4 hr chart for 50 pips. lol It was a two bar reversal on my ny close chart. Not perfect 2 bar but close enough. Anyway, I will be back next week and hopefully will be able to post something more meaningful than a rant! lol

Marc-I really respect your charts and analysis. I think you are part of the backbone of the thread.

Please have a great weekend!!!!!
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  • #2,669
  • Jun 3, 2010 4:17pm Jun 3, 2010 4:17pm
This is why people give him there money. Superior level of reasoning skills


Quoting Saxon
One last thing before I step off the desk for a bit; going to the wine store.
I know there has been a lot of bantering back and forth about Naked Trading and Non-Naked Trading and in our case, Nearly Naked Trading. But there is one thing that EVERYONE needs to realize. Naked or not, there are, I believe, a few tools that everyone should utilize in trading, and not doing so would be very "Unwise." Those tools are as follows and I will explain why:

Moving Averages
Pivots
[color=#211600]Trend...
Annoying Precision
  • #2,670
  • Jun 3, 2010 4:23pm Jun 3, 2010 4:23pm
An example of confluence.
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Annoying Precision
  • #2,671
  • Jun 3, 2010 4:31pm Jun 3, 2010 4:31pm
Quoting erikte279
An example of confluence.
I wish my H4 chart had the same opening and closing times as yours!

Sorry to everyone (especially Saxon) for posting my complete charts and creating a problem. I will remove my indicators before posting going forward.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,672
  • Jun 3, 2010 4:48pm Jun 3, 2010 4:48pm
only the cool people can get this feed..jk lol.

I think it evens itself out no matter what feed you have though, right?

Quoting MarcVUM
I wish my H4 chart had the same opening and closing times as yours!

Sorry to everyone (especially Saxon) for posting my complete charts and creating a problem. I will remove my indicators before posting going forward.
Annoying Precision
  • #2,673
  • Jun 3, 2010 4:51pm Jun 3, 2010 4:51pm
Quoting erikte279
only the cool people can get this feed..jk lol.

I think it evens itself out no matter what feed you have though, right?
I don't know. If I would have seen a chart like yours it would have made more sense to me. Could have made some good pips. Oh well. Just keep posting every four hours for me! lol
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,674
  • Jun 3, 2010 5:15pm Jun 3, 2010 5:15pm
Quoting calderone
I am very sorry to hear that people are sending you crappy messages. I think you should adjust your profile and not allow these, if someone has something to say-let them say it in an open forum and show what an @sshat they are. This is one of the best threads at the factory.

I have not taken any trades this week. I had some things to take care of (annual physical) and felt since it is nfp week-why not take a break. I do confess to an aud short off the 4 hr chart for 50 pips. lol It was a two bar reversal on my ny close chart. Not perfect 2 bar...
Hahaha, awesome pictures, made my day
  • #2,675
  • Jun 3, 2010 5:17pm Jun 3, 2010 5:17pm
Quoting MarcVUM
I wish my H4 chart had the same opening and closing times as yours!

Sorry to everyone (especially Saxon) for posting my complete charts and creating a problem. I will remove my indicators before posting going forward.
You shouldn't have to change your charts, I'm not changing mine
  • #2,676
  • Jun 3, 2010 5:18pm Jun 3, 2010 5:18pm
Quoting erikte279
An example of confluence.
Good stuff, what's your blue MA?
  • #2,677
  • Jun 3, 2010 5:33pm Jun 3, 2010 5:33pm
Guess we are going to have to wait for Asia for PA to pick up some speed
  • #2,678
  • Jun 3, 2010 5:39pm Jun 3, 2010 5:39pm
Blue: 50 Simple
Red : 20 Exponential

There useful when used in conjunction with the trend.

Narration From Left to Right

1. Initial Tap

2. Bullish Engulfing

3. Bullish Engulfing

Quoting Saxon
Good stuff, what's your blue MA?
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Annoying Precision
  • #2,679
  • Jun 3, 2010 5:43pm Jun 3, 2010 5:43pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Saxon
Guess we are going to have to wait for Asia for PA to pick up some speed
Hi there Saxon,
Right. Things got pretty slow again now. I just had some "broker-caused" PA on my A/U trade:

37 pip spike down within a minute. :o
Anyone else had that? (all other brokers I checked didn't have that spike)

Just sent them a nice lil email again.
This is the third time now within a month I got stuff like that with them.
Still got another account and consider to switch over to that one completely now.
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"Blue Horseshoe loves Anacott Steel!"
  • #2,680
  • Jun 3, 2010 5:45pm Jun 3, 2010 5:45pm
Quoting Tuner
Hi there Saxon,
Right. Things got pretty slow again now. I just had some "broker-caused" PA on my A/U trade:

37 pip spike down within a minute. :o
Anyone else had that? (all other brokers I checked didn't have that spike)

Just sent them a nice lil email again.
This is the third time now within a month I got stuff like that with them.
Still got another account and consider to switch over to that one completely now.
Hi Tuner. I have the pretty spike down on my chart as well. Could have really tricked some people into a short.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
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